Apollo Micro Systems Ltd. (IN:APOLLO)
:APOLLO
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Apollo Micro Systems Ltd.
(APOLLO)
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Rating:64Neutral
Price Target:
₹364.00
▲(33.85% Upside)
Action:Reiterated
Date:05/20/26
The score is primarily held back by weak cash generation (recurring negative operating and free cash flow, with a sharp FY2026 deterioration) despite strong reported revenue and profit growth. Technicals are favorable with a strong uptrend and positive momentum, while valuation is mixed—high P/E offsets part of the benefit of a high dividend yield.
Positive Factors
Revenue & Profit Growth
Sustained multi-year revenue and net income growth indicates the company has scaled products and won larger programs in defence/aerospace. This improves bargaining power with customers, supports reinvestment in capabilities, and underpins long-term top-line durability if contract wins continue.
Negative Factors
Weak cash generation
Persistent negative operating and free cash flow, despite reported profits, undermines internal funding for working capital and capex. Over months this increases reliance on external financing, elevates execution risk on long-cycle contracts, and can constrain sustainable growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Growth
Sustained multi-year revenue and net income growth indicates the company has scaled products and won larger programs in defence/aerospace. This improves bargaining power with customers, supports reinvestment in capabilities, and underpins long-term top-line durability if contract wins continue.
Read all positive factors
Apollo Micro Systems Ltd. (APOLLO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹127.82B
Dividend Yield0.09%
Average Volume (3M)1.19M
Price to Earnings (P/E)57.3
Beta (1Y)1.72
Revenue Growth60.89%
EPS Growth73.08%
CountryIN
Employees358
SectorTechnology
Sector Strength88
IndustryAerospace & Defense
Share Statistics
EPS (TTM)2.55
Shares Outstanding357,292,450
10 Day Avg. Volume522,593
30 Day Avg. Volume1,192,422
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)4.93
Price to Sales (P/S)7.15
P/FCF Ratio-16.15
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.3
Revenue Forecast (FY)₹12.01B
Apollo Micro Systems Ltd. Business Overview & Revenue Model
Company Description
Apollo Micro Systems Limited designs, develops, assembles, and tests electronic and electro-mechanical solutions in India. The company provides DSP products, missile hardware simulators, integrated avionics modules, generic PCM encoders and decode...
How the Company Makes Money
Apollo Micro Systems makes money mainly by executing contracts for the design, development, manufacture/supply, and integration of electronic systems and subsystems used in defence and aerospace programs. Revenue is typically generated through: (1...
Apollo Micro Systems Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.70B | 9.04B | 5.62B | 3.72B | 2.98B | 2.43B |
| Gross Profit | 1.92B | 2.37B | 1.28B | 884.04M | 666.85M | 445.64M |
| EBITDA | 1.78B | 2.18B | 1.32B | 702.31M | 616.92M | 462.77M |
| Net Income | 818.87M | 1.13B | 563.96M | 311.19M | 187.50M | 146.22M |
Balance Sheet | ||||||
| Total Assets | 17.82B | 23.69B | 12.99B | 9.56B | 6.93B | 5.99B |
| Cash, Cash Equivalents and Short-Term Investments | 674.02M | 1.56B | 624.78M | 275.44M | 2.49M | 3.43M |
| Total Debt | 3.61B | 5.43B | 3.35B | 2.08B | 1.44B | 1.16B |
| Total Liabilities | 7.04B | 10.60B | 6.92B | 4.37B | 3.08B | 2.79B |
| Stockholders Equity | 10.79B | 13.13B | 6.07B | 5.19B | 3.83B | 3.19B |
Cash Flow | ||||||
| Free Cash Flow | -3.81B | -4.00B | -850.37M | -1.32B | -488.92M | 205.70M |
| Operating Cash Flow | -1.90B | -1.73B | 112.73M | -784.91M | -154.78M | 439.99M |
| Investing Cash Flow | -2.57B | -3.61B | -952.43M | -588.82M | -347.57M | -249.84M |
| Financing Cash Flow | 4.24B | 5.83B | 1.24B | 1.37B | 509.51M | -187.99M |
Apollo Micro Systems Ltd. Technical Analysis
Positive
271.95
Price Trends
255.34
Positive
250.06
Positive
258.94
Positive
Market Momentum
22.69
Negative
72.84
Negative
80.49
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:APOLLO, the sentiment is Positive. The current price of 271.95 is below the 20-day moving average (MA) of 310.73, above the 50-day MA of 255.34, and above the 200-day MA of 258.94, indicating a bullish trend. The MACD of 22.69 indicates Negative momentum. The RSI at 72.84 is Negative, neither overbought nor oversold. The STOCH value of 80.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:APOLLO.
Apollo Micro Systems Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹127.82B | 57.28 | ― | 0.09% | 60.89% | 73.08% | |
64 Neutral | ₹87.05B | 50.75 | ― | ― | 13.29% | 90.83% | |
64 Neutral | ₹244.55B | 113.44 | ― | ― | 29.62% | 77.81% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ₹97.59B | 54.75 | ― | ― | 45.99% | 76.41% | |
57 Neutral | ₹32.81B | 24.05 | ― | ― | -16.99% | 7.60% | |
53 Neutral | ₹47.52B | -87.42 | ― | 0.25% | 6.93% | -2481.56% |
* Technology Sector Average
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Apollo Micro Systems Ltd. Corporate Events
Apollo Micro Systems Wins Lifetime Licence for Strategic Arms Manufacturing
Apr 17, 2026
Apollo Micro Systems Ltd. has received a lifetime arms manufacturing licence from the Government of India’s Department for Promotion of Industry and Internal Trade, authorising it to produce, assemble, integrate and proof-test a range of hig...
Apollo Micro Systems Plans Institutional Investor Meets and Plant Visit in Hyderabad
Mar 6, 2026
Apollo Micro Systems Ltd. has scheduled a series of institutional investor and analyst interactions in Hyderabad on March 11, 13 and 16, 2026, comprising group meetings, one-on-one discussions and a plant visit. The company said only its published...
Apollo Micro Systems Schedules March Institutional Investor Meets in Hyderabad
Mar 6, 2026
Apollo Micro Systems Ltd., the Hyderabad-based listed technology and engineering solutions company, has announced a series of investor and analyst interactions to be held in mid-March 2026. These meetings underscore the company’s engagement ...
Apollo Micro Systems Plans Investor Meetings and Plant Visit in Hyderabad
Mar 6, 2026
Apollo Micro Systems Ltd. has scheduled a series of physical meetings with institutional investors, analysts, CIOs and fund managers in Hyderabad on March 11, 13 and 16, 2026, which will include group sessions, one-on-one interactions and a plant ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.